Italy: Economic sentiment turns downbeat in October
Latest reading: Economic sentiment dropped to 99.5 in October from September’s 100.0. As a result, the index fell below the long-term average of 100, pointing to a negative near-term outlook for the economy.
The headline print reflected deteriorating sentiment in the industrial sector and weaker confidence in the services sector. Meanwhile, confidence strengthened in the construction and retail sectors, while sentiment among consumers improved in October.
Regarding indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index improved.